Decision details

The corporate insurance contract is out for tender and Executive is requested to award this contract in March 2020.

This key decision will be taken by the Chief Executive.

(1) To award the Corporate Insurance Contract to Bidder 1 in the exempt Appendices 1 and 2 attached, with effect from 1^st April 2020 for an initial period of 3 years, with options for the Section 151 Officer to extend it for a further year, and a final year thereafter (3 plus 1 plus 1). The decision is made on the basis that the Bid 1 represents, overall, the most economically advantageous tender resulting from the procurement process to procure the new corporate insurance policy.

(2) To authorise the Section 151 Officer to complete matters and contract in accordance with Decision (1).

Reasons:

On 4^th February 2020 the Executive of the Council agreed to the appointment of new insurance providers for the Council and delegated the decision to award the contract to the Chief Executive Officer subject to relevant consultation and to the contract award being within the current budget of £485,000 less the fine arts cover of approximately £40,000. This was to enable the Council to enter into a contract to commence on 01/04/2020 with the winning bidder.   

A robust procurement process has taken place, with Bidder 1 having been evaluated as the winning bidder, the proposed value of the contract is within the prescribed budget and consultation has occurred as required.